According to the China Foreign Exchange Trade System, the central parity rate of the Chinese currency renminbi, or the yuan, strengthened 3 pips to 7.1776 against the dollar on Thursday.
In China’s spot foreign exchange market, the yuan can rise or fall by two percent from the central parity rate each trading day.
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The yuan’s central parity rate against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
